Updates to 2018 Plans: What New Rates Mean for Shopping Now

We want to make sure you heard about a recent change to our plans and rates. It’s more important than ever to come back to browse plan prices to make sure you’re getting the best deal for you and your family.

Open enrollment begins November 1, but you don’t have to wait to browse plans: Come back now to MarylandHealthConnection.gov or our mobile app to see new prices on some plans that changed as of October 26, and get an updated estimate of financial help to lower your costs.

Why did some plan costs change?Before now, Silver-level plans sold through the marketplace received funding from the federal government to keep costs down for lower income enrollees for out-of-pocket expenses such as deductibles and copays. However, as of Oct. 12, the government has stopped making these “cost-sharing reduction” payments to the insurance companies, so the Maryland Insurance Administration has permitted an increase in premiums for these plans. The cost remains unchanged for other plan levels offered through the marketplace.

However, most Marylanders receiving financial help will not see an increase in their monthly costs. This is because more than 85% of our Silver plan enrollees (whose plan rates will change for 2018) also qualify for financial help in the form of an advance premium tax credit, which will increase to make up the cost difference. In fact, some people who previously would not have qualified for financial help will now qualify for a tax credit to help lower their costs.

These changes make it especially important to come back to MarylandHealthConnection.gov this year, even if you have already looked at plans and prices. If you’re currently enrolled, check your mail or account inbox for a notice this week explaining any changes to your 2018 plan and financial help. During open enrollment you should shop again to be sure you’ve selected a plan for 2018 that best fits your needs and budget.

If you’re not yet covered, open enrollment is November 1 to December 15 to sign up for 2018 health or dental plans. You may be surprised to find you qualify for savings, just like 9 out of 10 people who enrolled through us.

Need help understanding your options? We have thousands of experts throughout Maryland who can help you choose the a plan for 2018 and get the best deal. Find free, in-person help near you.

About Maryland Health Connection

Maryland Health Connection is Maryland’s official health insurance marketplace for individuals and families to compare plans and enroll in health and dental coverage. It’s the only place to get financial help with health insurance. See if you qualify for financial help like tax credits or Medicaid/MCHP to make health insurance more affordable.